The Process of controlling Control is one of the most important managerial functions like planning, staffing and directing. Controlling is the measurement and correction of performance in order to make sure that the organizational objectives and the plans derived to them are being accomplished. The basic control process in management is concerned with establishing standards, measuring actual performance against these standards and taking actions to correct the variations from standards and plans. Controlling is directly related to planning because controlling looks at and ensures whether plans are properly implemented or not. The managers observe what currently happens within an organization and compare these with what was supposed to happen. They focus on correcting below standard situations and bring the results up to the expectations. Setting plans and controlling the standards include almost all managerial area within an organization like time controls, material and equipment control, cost and budgetary control, financial control and operational control. Setting up standards As plans are the yardsticks against which a manager has to control, the first step in the control system is to establish certain standards and plans. However, since plans vary in detail and since a manager cannot usually watch everything, special standards are established. Standards are, by definition, criteria of performance. Standards are usually expressed in number and it can be set for quality, quantity and time measures. Standards form as turning points in an entire planning program at which measure of performance can be made so that mangers can receive signal about how things are going and thus do not have to watch each and every step in the execution of plans. Measurement of performance Even though such measurement is not always practicable within an organization, the measurement of performance against standards must ideally be done on a forward-looking approach so as to detect any deviations in advance of their occurrence. A skillful and forward looking manger would be able to predict probable deviations from standards. If standards are appropriately drawn and means are available for determining what is happening, appraisal of actual or expected performance would be quite easy. But, in the less technical kinds of works, both setting standards and measuring the performance seem to be more difficult. For instance, controlling the work of a finance manager or industrial relations director, it is not easy because definite standards are not easily developed. Correcting deviations Standards should reflect various positions in an organizational structure. The manager needs to compare measured performance against already set up standards and take corrective actions to remove or minimize he causes. Management must be able to know and assess where, in the assignment of individual or group duties, the corrective actions need to be implemented. Managers may correct deviations by redrawing the plans or by modifying their goals or correct deviations by exercising their organizing functions through reassignment or classification of duties. It also can be solved by additional staffing by better selection and efficient training or by effective leadership techniques.

Financial statement Evaluation of financial statement is an imperative method of controlling as it monitors the progress of programs and plans. Common financial statements are balance sheet, income and cash flow statements. Performance appraisal It mainly focuses on the performance of the total organization, including its employees, production and other processes and sub systems like departments and projects. Performance appraisal gives opportunity to both employer and employee to communicate their common goals and to assess how well these are achieved. Operations management Operation management is the process of specifying a performance standard